Indonesia policy uncertainty hampers resumption of palm oil exports

The Southeast Asian country, the world's biggest palm oil producer, halted exports of palm oil from April 28 in an attempt to bring down soaring local prices of cooking oil,already struggling with sunflower oil supply shortages due to the war in Ukraine.

Palm oil, used in everything from margarine to shampoo, comprises a third of the world's vegetable oil market, with Indonesia accounting for about 60 per cent of supply.impose a so-called Domestic Market Obligation policy Indonesia plans to retain 10 million tonnes of cooking oil supplies at home under the DMO rules, Chief Economics Minister Airlangga Hartarto said, adding their implementation will be regulated by the Trade Ministry."Sellers are first trying to clear pending quantity that was stuck because of the ban. They are accepting new orders as well, but demand is not great," said a Mumbai-based dealer with a global trading house.

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